LIFFE wheat futures slump

LIFFE/Euronext wheat futures are sharply lower Tuesday tracking losses in the overnight eCBOT market which closed 25-30c lower.

A warmer and drier outlook for the UK over the next couple of weeks should help to advance the domestic harvest a trader said.

Meanwhile larger crops still continue to emerge from competing export nations such as Russia and the Ukraine meaning UK prices must move lower.

November feed wheat is £2.50 lower at £123/tonne and November Paris milling wheat EUR4.50 lower at EUR189/tonne.